In no particular order, here are some of the insurances you need to think about if you own a business in Dubai.

1) Motor Fleet Insurance

If a company owns a fleet of vehicles, they can buy a Comprehensive Motor Insurance or a Third Party Insurance policy that can get them compensation in the event of an accident that may cause loss or damage to their vehicles. There is a good number of fleet insurance plans and hence, businesses can choose the one that suits their requirements. Insurance companies are ready to tweak the policies also so the plans perfectly match the needs of the businesses.

2) Group Medical Insurance

The classes of employees on the rolls of companies may vastly differ and hence, Dubai insurance companies are offering a very wide range of group medical insurance plans. For ensuring that the employees derive optimal benefits from these schemes, the insurance companies have tied up with a number of doctors, clinics, hospitals, diagnostic centres as well as radiology centres.

Almost all the insurance companies offer worldwide coverage also. The plans cover maternity, dental problems and psychiatry-related issues also.

3) Group Life Insurance

Companies may have various types of assets but employees are the most valuable resource among them. If employers buy an appropriate Group Life Insurance covering their employees, it will immensely benefit the companies. While the financial burden of the companies will be greatly reduced, employees can get themselves treated for illnesses, if any, that may affect them.

Group life and personal accident policies mainly cover death. Of course, covers such as Temporary Total Disability (TTD) and Permanent Total Disability (PTD) can also be added to these policies. The policies may cover medical expenses that include wage losses as well during the period of treatment.

4) Group Life & Personal Accident

The insurance companies operating in offer Group Life Insurance & Personal Accident policies. Similar to Group Insurance plans, these policies also reduce the financial burden of the employers and provide medical treatment benefits to employees. Other similarities of these policies with Group Insurance plans are that these policies also cover death and may include covers like Temporary Total Disability (TTD) and Permanent Total Disability (PTD). They may include medical expenses incurred for treatments and wage losses during the period of treatment.

5) Engineering Insurance

There is a wide range of Engineering Insurance products in the They include Contractors’ All Risks Insurance polices that are suitable for construction projects, Erection All Risks Insurance, polices that cover the Plant & Machinery of contractors, Machinery Breakdown Insurance and so on. These insurance polices are of immense benefit to the Principals, Contractors as well as sub-contractors who undertake various types of civil construction projects. Insurance companies allow the commercial entities that operate in such industries and that float various types of tenders to get their policies customised to suit their requirements. These policies cover losses or damages due to natural, social and chemical perils also.

6) General Accident Insurance

Policies that cover material damages may not cover direct loss of money and that is the reason insurance companies operating in have come out with General Accident or Money Insurance policies that cover money that is kept in a safe or in the business premises. These policies cover loss of money during transit between the premises and the banks and vice versa.

7) Liability Insurance

Companies may face liability risks such as legal liabilities and those that pertain to workmen’s compensation, etc. So, insurance companies offer Public Liability policies as well as those that cover liabilities pertaining to Workmen’s Compensation.

8) Marine Insurance

There are a number of companies in Dubai that have import and export operations. So, insurance companies offer marine insurance policies that cover various types of risks, the goods that are moved by land, sea and air may be subjected to.

9) Property Insurance

Insurance companies operating in the offer Property Insurance policies that cover all possible risks to commercial properties like buildings and contents such as stock, plant & machinery, etc. in the buildings.

In the commercial world, hard work and business acumen are no more kings. Business owners have to be on their toes because just one fell blow can bring all their efforts to nought. That is why it is suggested that they should buy appropriate insurance policies that can cover their risks.

We, at AFIA Insurance, are always willing and ready to help businesses choose the right policies that can perfectly cover all their risks.

About Author

Rachel Al Mughairi

About Author

With over 34 years in the international insurance industry in a variety of senior management roles, and as holder of the Diploma in Insurance from the Chartered Insurance Institute, Rachel surely knows her insurance! With experience in London, continental Europe and the Middle East, Rachel is here to share her knowledge and help you understand more about insurance products in this easy-to-understand series of videos and blogs.